Skip to main content
Sister Publication Links
  • Middle East Foam & Polyurethane
  • UTECH Asia/PU China
  • UTECH Europe
  • UTECH Las Americas
Subscribe
  • My Account
  • Login
  • Subscribe
  • Ukraine
  • News
    • Asia
    • Americas
    • Europe
    • M & A
    • Financial results
    • Automotive
  • Data
  • Information
    • Country Overview
    • Market Sector overviews
    • Technical articles
    • Company profiles and strategies
  • Events
    • Exhibitions
    • Conferences
    • Webinars / Livestreams
    • Become a Speaker
    • UTECH Europe 2021
  • Advertise
  • Contact Us
  • Issues
  • Subscribe
MENU
Breadcrumb
  1. Home
  2. News
December 06, 2010 12:00 AM

European Commission approves BASF’s acquisition of Cognis

Utech Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Ludwigshafen, Germany - The European Commission has approved the acquisition of Cognis Holding GmbH by BASF SE, 30 Nov press release from the German firm. Cognis is a speciality chemical manufacturer, with products including functional materials and solutions for industrial markets such as coatings and inks.

    The approval is subject to the divestiture of businesses that accounted for sales of significantly less than €100 million, which is less than 3 percent of Cognis' total sales, the statement explained, adding that the Chinese authorities have also approved the acquisition.

    The transaction has now received approval from all relevant competition authorities and is expected to be finalised in the first half of December.

    BASF has committed to the European Commission to divest the following businesses and assets located at Cognis' site in Hythe, England:
    • the Cognis hydroxy methacrylates business;
    • the Cognis multifunctional methacrylates (MFM) and adducts business, and
    • plants for the manufacture of polyalkylene glycols (PAG) and PAG-based lubricants.

    BASF will retain the business including the customer base and intellectual property rights and will receive PAG and PAG-based lubricants manufactured at Hythe through a toll manufacturing agreement. BASF will grant a license for the manufacture of these products to the purchaser of the plants.

    In June 2010, BASF announced that it had reached an agreement with Cognis Holding Luxembourg S.a r.l. controlled by Permira Funds, GS Capital Partners and SV Life Sciences to acquire the speciality chemicals company Cognis for an equity purchase price of €700 million.

    Including net financial debt and pension obligations, the enterprise value of the transaction is €3.1 billion.
    "

    Recommended for You
    Self-blowing non-iso PU foam created
    Self-blowing non-iso PU foam created
    US mattress imports continued to surge in March 2022
    US mattress imports continued to surge in March 2022
    FRX’s Nofia FRs given ChemForward’s Safer designation
    FRX’s Nofia FRs given ChemForward’s Safer designation
    Latest Issue
    April/May 2022 issue
    Click HERE for Free Download
    View All Archives
    Get our newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Register to access our archive of leading information on the polyurethanes industry.

    Subscribe now
    Connect with Us
    • Twitter
    • LinkedIn
    • Facebook
    • Youtube

    Follow us on social media for the latest polyurethanes industry news and event updates.

    Logo
    Contact Us

    Office 127,
    61, Willow Walk,
    London
    SE1 5SF
    E-mail us
    +44 (0) 203 287 5979

    Customer Service:
    +1 313 446 0450

    Resources
    • Advertise with Us
    • Media Kit
    • Staff
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Ukraine
    • News
      • Asia
      • Americas
      • Europe
      • M & A
      • Financial results
      • Automotive
    • Data
    • Information
      • Country Overview
      • Market Sector overviews
      • Technical articles
      • Company profiles and strategies
    • Events
      • Exhibitions
      • Conferences
      • Webinars / Livestreams
      • Become a Speaker
      • UTECH Europe 2021
    • Advertise
    • Contact Us
    • Issues
    • Subscribe